Harvey Jones, South Africa's leading solution provider in the Microsoft business intelligence sector, has entered into a merger with top UK-based business performance management group Avisen. This move gives the new company global reach, with offices in London, Amsterdam and now Johannesburg.
Following the merger with Harvey Jones, Avisen listed on the AIM, the London Stock Exchange's international market for growing companies. Its share price has since doubled in value from 5p issue price to 10p.
The merger, concluded towards the end of 2008 following a due diligence, brings significant benefits to both companies, including enhanced economy of scale, greater sales revenue and market share in its market, broadened diversification and accelerated growth prospects. It also gives both parties access to a complementary skills base.
“The merger of the two companies represents great value for our shareholders,” says Marcus Hanke, CEO of Avisen. “We are a business consultancy with real-world experience in tackling the challenges and pressures associated with creating strategy, changing corporate culture and establishing business performance management systems that a business can rely on. It makes sense for us to partner with a company that is the one of the most successful financial reporting and business intelligence solution providers in the world. The merger is synergistic and enables us to add software and technology expertise to our strategic, operational, tactical and planning capability.”
Keith Jones, MD of Harvey Jones, concurs: “The merger takes advantage of a gap in the market for a company that can offer clients high-end business consulting backed by the right technology. The right software tools enable execution and allow for strategy to be embedded throughout an organisation.”
Jones says his team will benefit from access to global business, which will in turn boost Harvey Jones's ability to attract and retain top talent, and offer high levels of training, support and customer service. “The partnership also brings a new level of operational stability to both businesses,” he adds.
Avisen's focus is on turning fragmented, multi-sourced information - such as budgets, forecasts, and actuals - into a single, integrated system. Its clients include TNT, Heineken, BAE Systems, Millward Brown, Grass Roots Group and Added Value.
Harvey Jones has deployed solutions directly and with its partners at clients such as Absa, Metropolitan, Saambou, Edcon, Sars, the SABC, De Beers and First National Bank, completing over 50 financial reporting or budgeting implementations in the last five years. It has more than 100 business intelligence customers in South Africa.
“The company has an excellent track record in the financial market sector and a depth of experience from both a business and technical perspective second to none,” says Hanke. “Its success rate is high and it has a referable client base. In addition, we were drawn to the entrepreneurial spirit of the business, as well as its commitment to client service.”
Harvey Jones's brand and name will remain intact for a period of at least one year. “Our brand is highly respected in South Africa and it's not something that can be done away with overnight,” says Jones.
Marketing of the merged company will be centralised in South Africa, as will product distribution and third-party software implementation.
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Harvey Jones
Harvey Jones, a subsidiary of AIM-listed Avisen, is a global award-winning company that was established in South Africa in 1997 and has grown to become the leading provider of business intelligence, performance management and decision support solutions on the Microsoft platform in Africa. The company's solution set consists of global best-in-class solutions, including Panorama, ProfitBase, Crystal Ball and Acorn. The Harvey Jones team provides the market with best-practice implementation, training and support.
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